Troubled Insurer Royal Sun Alliance (RSA) is confident that it will reclaim its position in the elite top 100 companies by market capitalisation by gaining listing back in the FTSE 100.
RSA dropped out of the top 100 at the last quarterly review. Last year RSA suffered, along with many companies, with falling share prices, low and negative investment returns, as well as making allowances for significant other losses that have been written off against their 2002 books.
With adjustments being made, staff numbers being cut and more efficient management being enforced, profits are on the up, their acting Chief Executive Officer expects a swift return.
Our View:
Insurers are waking up to the fact that gone are the days of complacent management and "bottomless pit"